LAHORE MIRROR — The caretaker federal government is considering a substantial 50 percent increase in Sui gas prices scheduled for next week, aimed at mitigating the mounting losses within the gas sector.
The gas sector currently grapples with an annual loss of Rs350 billion, while the overall circular debt of the gas industry has ballooned to Rs2,700 billion. In response, the interim government has opted to transfer the burden of these losses onto the public. If the price adjustments are implemented, Sui Northern is expected to witness a per mmbtu increase of Rs417, while Sui Southern will experience an increase of Rs415 per mmbtu.
Non-bailable warrants for Arshad Sharif’s wife
Reports suggest that the Oil and Gas Regulatory Authority (Ogra) has already granted approval for the gas price hike.
This tariff increase aligns with the demands of the International Monetary Fund (IMF). It is anticipated that the revised gas prices will take effect from July 1, 2023, pending a formal notification from the Ministry of Energy.
